With the Alberta twist on LOL — lower for longer oil prices — the government has cancelled its earlier
promise of a balanced budget by 2020.
The Reform Party shall hold President elect Donald Trump to
his promises of balanced budgets, infrastructure renewal, term limits and trade reform.
Not exact matches
The CAQ has come out swinging with the
promise of balancing the province's
budget within a year
of being elected.
OTTAWA — Mandatory
balanced -
budget legislation, interprovincial booze runs, public sector bashing and lifetime prison terms are among a grab bag
of populist Conservative
promises in a mid-mandate policy makeover.
The best fiscal rules are more flexible,
promising to keep the structural deficit in check, for example, or pledging to
balance the
budget over a number
of years.
And why was this change allowed to proceed, when other
promised tax initiatives have to await the achievement
of a
balanced budget?
And they are
promising more
of the same - smaller,
balanced budgets.
This raises the question
of whether the Finance Minister will be able to
balance the
budget in 2019 - 20 if the Government attempts to fully implement its election
promises.
In 2015 - 16, the year in which the Conservatives
promised a
balanced budget or better, PBO is forecasting a surplus of $ 3.7 billion, compared to the Budget 2013 forecast of only $ 0.8 bi
budget or better, PBO is forecasting a surplus
of $ 3.7 billion, compared to the
Budget 2013 forecast of only $ 0.8 bi
Budget 2013 forecast
of only $ 0.8 billion.
That adjusted forecast projected a surplus
of $ 7.2 billion in 2019 - 20, allowing you to claim a
balanced budget in 2019 - 20, after incorporating the net impact
of your election
promises.
In his first
budget last April, Finance Magician Joe Oliver pulled a handful
of rabbits out
of his hat to achieve the long -
promised balanced budget in 2015 - 16.
For example, the Conservative government has, along with implementing a series
of modest tax breaks,
promised to introduce income - splitting for couples with children under age 18, and to double the annual savings limit in tax - free savings accounts — but only once the
budget is
balanced.
With the federal
budget coming soon, it is also worth recalling that the Liberals
promised to run deficits
of no more than $ 10 - billion for a maximum
of three years, but the government's latest projections peg its annual deficits at almost $ 30 - billion with no timeline for returning to a
balanced budget.
While the Liberal recruits spoke
of worrying long - term trends
of aging and lagging growth and the PQ prepared for events to tout the party's integrity, the Coalition Avenir Quebec made a bold
promise to
balance the
budget within a year.
With $ 1 billion in support
promised for the flood ravaged communities, it will be difficult for the opposition Wildrose to criticize the Premier's decision to abandon her
promise to
balance the provincial
budget by 2014, especially as Ms. Smith's constituency includes one
of the hardest hit areas.
Mulcair's
balanced -
budget promise sought to reassure NDP - wary voters but also curtailed the party's ambition, while the Liberals peeled off progressive support with its own abandonment
of a
budget -
balance pledge, plus its exciting flash
of radicalism — a vague plan to legalize marijuana.
Trump unveiled a $ 4.4 trillion
budget for next year that heralds an era
of $ 1 trillion - plus federal deficits and — unlike the plan he released last year — never comes close to
promising a
balanced ledger even after 10 years.
Lawmakers are also skeptical
of Cuomo's
promise to
balance the
budget — without big spending increases — while still funding many
of the pricey proposals he laid out in his state
of the state, which include upgrades to airports, big investments in economic development and increases in spending on education and workforce development.
Mr Osborne
promised to
balance the deficit within the next five years, saying that 77 per cent
of the measures to do so outlined in the
budget are spending cuts, while 23 per cent would come from tax rises.
And the practical solution for all this is to put the practical
budget in place with a practical,
balanced budget to be paid
of in a short amount
of time — five to seven years — and that will instill the confidence in business and the people for a
promising future for the federal government and our states.
Another way
of saying this is if there is a dollar left in the till, on a cash basis, the
budget is
balanced, no matter what future
promises remain to be paid, with no assets to back up the
promises.
The states, most
of which had to run a
balanced budget, cheated in a different way — they didn't lay aside enough cash for their pension and retiree healthcare
promises.